Share via

Sony today set out plans to slash more than 10,000 jobs — 6 per cent of its global workforce — in an aggressive cost-cutting drive aimed at stemming mounting losses.

Kazuo Hirai, the new chief executive at the Japanese electronics giant, said the group would spend 75 billion yen (£580 million) on restructuring costs this year as part of a wide-ranging turnaround plan.

Sony, which has been loss-making for the past four years, said it would focus on reviving the profitability at its core television business, which has been hit hard by a slowing global economy, intense competition from rivals like Apple